Bulgaria property news and articles

Bulgarian may appear a difficult language at first – particularly because of the Cyrillic alphabet – but once you manage the basics it is really quite straightforward. It follows strict rules of grammar and the vocabulary is much smaller than in English. Consider at least learning a handful of phrases and the alphabet before you arrive in Bulgaria, as this will help with simple questions, reading and pronouncing the words on signs. For example, the letter ‘B’ translates to the Latin letter ‘V’, ‘P’ to ‘R’, and ‘H’ to ‘N’, so Варна = Varna.

Pets may only be brought into Bulgaria if you adhere to strict regulations. Each animal will need a Pet Passport and all the compulsory vaccinations. Check the exact details; importing common pets such as cats and dogs is fairly straightforward; importing more exotic pets such as parrots requires a more rigorous application procedure. Consider whether the animal is sufficiently robust to survive the journey, and ensure that all vaccinations are administered in time to ensure effectiveness before travel. Your best source of information is the DEFRA website , or contact your local vet.

Removal Companies

The logistics of relocating are often secondary in the minds of people who have found their dream home in Bulgaria and are eager to embark on their new life abroad. Careful planning, well in advance, will help to avoid setbacks.

The removal of anything more than a carload of personal effects is best left to professionals. Finding removal companies should be easy enough, but selecting one that will provide a satisfactory international service needs a little more research. In this instance a recommendation from a reliable source is valuable. If you don’t have one, there are a few useful guidelines to consider. Using small local operators who quote lower prices than the more established larger operators might prove a false economy. It is essential that the removals company you use has experience of delivering to Bulgaria specifically, since each country has its own procedural peculiarities at border crossings. Larger companies are more likely to have experience in dealing with these issues. Preferably choose a company that has offices both in Bulgaria and the UK so you have a contact at hand wherever you are. Ideally they should provide door-to-door delivery.

Whatever you decide to do about investments – put them in a trust, appoint investment managers to manage them in your own name or manage them yourself-you should always keep an up-to-date list of your investments and assets and tell your family where to find it. Make a file. By all means have a computer […]

The Need to do Something

Most of us don’t like making investment decisions.They make our heads hurt. They make us face up to unpleasant things – like taxes and death. We don’t really understand what we are doing, what the options are and what is best. We don’t know who we should trust to give us advice. We know we ought to do something, but it will wait until next week-or maybe the week after. Until then our present arrangements will have to do. If you are moving to live overseas you must review your investments. Your current arrangements are likely to be financially disastrous – and may even be illegal.

Just to reiterate: it is possible to be tax resident in more than one country at the same time. In this case you could end up liable to pay the same tax in both countries. Also, a particular item of income could, under each country’s different rules, be taxable in both the country in which it is sourced and also in the country in which the recipient of that income is resident.

For these reasons, many countries have concluded agreements called double taxation agreements with other countries to protect individuals from being required to pay tax twice. Bulgaria and the UK have such an agreement.

Tax residence in Bulgaria is determined largely by one simple rule – if you spend more than 183 days a year in Bulgaria, you are regarded as being resident there for tax purposes.

Tax Residence in More than One Country

Remember that you can be a tax resident in more than one country under the respective rules of those countries. For example, you might spend 230 days of every year in Bulgaria and 135 days in England. In this case you could end up, under the rules of each country, being responsible for paying the same tax in two or more countries.

It is the law at present that all non-EU tourists entering Bulgaria should register within five days at the local police station. EU citizens do not have to register. For the vast majority of tourists who are staying in hotels (whether EU or not), this is done automatically

It is increasingly common to get into conversation with a taxi driver in London and find he knows one who has just bought in Bulgaria or is about to retire there. More and more people are choosing to retire abroad and many of them are choosing Bulgaria.

Bulgaria is traditionally an agricultural country, and farming is still a major employer – 24 per cent of the workforce is employed in farming. Land has always been an emotive subject in the country where so much of it was taken from private owners after 1945.The government has now returned thousands of acres of land to former owners or their descendants.